Pause Current Private Health Insurance and Join a Different Provider, Any Problem Having Two Health Fund Membership?

Lhelloliuc on 13/08/2025 - 23:04

My previous company provided a benefit in cooperate with a health fund, providing a better policy that is not available to public (0 excess fee, 90% rebate on extra, etc…).

As I've left the company, I need to pay all the premium by myself now, which is quite expensive (~460/month), it was mostly paid by my company before.

I'm still in middle age (35) and I haven't used any hospital cover in the past 8 years, so I start to seek for more budget cover. But I don't really want to end my current membership as I won't be able to get the same policy again, in case I need this cover.

What I am thinking is to "pause" my current membership, using the reason like going overseas or financial hardship, then join a budget health cover (in the purpose of avoid medicare levy surcharge), and in case I really need to use my hospital cover, I will end the budge insurance and resume my membership that has a better policy.

Will this work? When I try to join the budget provider, it asks "Do you currently have health insurance?", should I say no in this case?

Health & Beauty Health Insurance Insurance

Comments

  • helloliuc on 13/08/2025 - 23:11
    -3

    "If you're switching from another fund and you’ve used any of your current limits (at that fund), that will count towards your annual limits with us. If you've reached your limits at your previous fund you may not be able to claim straight away on extras."

    Does it mean I must provide my current membership status to the new provider? What if I don't?

  • bobokingdom on 14/08/2025 - 07:32

    Fraud, Lie, Deception and Illusion.

    Illusion because the new fund will need you to serve all the waiting periods…and benefits are just illusions during waiting period.

  • Dollar General on 14/08/2025 - 07:57
    +1

    If you don’t pay the monthly premium, you don’t have a policy in place to pause

  • holdenmg on 14/08/2025 - 10:18
    -1

    It sounds like you were on a Corporate Rate.

    Usually when you leave you get a limited time offer to transition to similar cover with the existing Health Insurer.

    If you don't take that up, ultimately your cover with them will lapse.

    If you want to save some money, it may be as option to transition to a lower cover level with the existing Insurer, shifting from Gold back to Silver may save you some money, but might preserve some of the Corporate benefits.

    Unless you are going Overseas (lol) or are prepared to go Overseas or can substantiate financial hardship, why go there…

    You can look at:
    https://yourhealthwallet.com as an alternative, but if you haven't made a claim for Eight years, it seems like you want to have your cake and eat it too.

    • skid on 14/08/2025 - 10:49
      +1

      ^ this is the way

      OP, I don't think what you thought of will work. When you join the budget cover, I think they'll cancel your corporate cover automatically.

      Writing "No" to that question is Lie as bobokingdom said. I wouldn't do that as it's all tracked using your TFN.

  • MrHyde on 14/08/2025 - 17:14

    Your Health Wallet sounds interesting; but the fees sound excessive.

    Are there any other such services? I'm wondering whether doing something similar with a separate ETF account could achieve the same goal - as long as a person has the discipline to only use the funds for health related expenses.

  • Muppet Detector on 14/08/2025 - 17:21
    +2

    Will this work?

    No.

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